Rapid Economic Development to Drive Recruitment Process Outsourcing Market in Southeast Asia at a Strong CAGR of 19.3% 2014-2020

Recruitment process outsourcing (RPO) enables companies to reduce operating costs and also allows them to focus on their core competencies. These advantages have led to the growing trend of recruitment process outsourcing and the market for the same is poised to gain steam in Southeast Asia over the next four years. In a report, titled “Recruitment Process Outsourcing (RPO) Market - Southeast Asia Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020,” Transparency Market Research carefully examines the performance and contribution of the Southeast Asia RPO market.Based on the findings of the report, the market for recruitment process outsourcing in Southeast Asia is anticipated to expand at a strong CAGR of 19.3% from 2014 to 2020. The value of the market was pegged at US$45.6 mn in 2014, which is likely to rise to US$154.7 mn by 2020.

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Recruitment process outsourcing refers to the outsourcing of various recruitment functions such as interview scheduling, candidate screening, offer execution, and job posting to third-party vendors. Organizations providing RPO services work as an extension to the human resource department of the client company and manage functions based on the recruitment needs of the clients.

According to the report, the Southeast Asia recruitment process outsourcing market is propelled by the rapid economic development in the region and the several advantages presented by RPO. The increased penetration of RPO services in small and medium enterprises offers lucrative options for players within the recruitment process outsourcing market. However, the lack of confidence when it comes to the knowledge and capabilities of RPO providers acts as a major hindrance to the expansion of the market.

The Southeast Asia recruitment process outsourcing market has been segmented on the basis of engagement type into end-to-end RPO and on-demand RPO. In 2013, on-demand recruitment process outsourcing dominated the overall market in terms of revenue owing to the superior advantages offered by on-demand RPO.

Based on end use, the Southeast Asia recruitment process outsourcing market has been divided into IT, IT-enabled services (ITES), and telecom, banking, financial services, and insurance, healthcare and pharmaceuticals, manufacturing, hospitality, and others, which includes marine, aerospace, and construction. The IT, ITES, and telecom segment led the Southeast Asia recruitment process outsourcing market owing to increased demand for recruitment in the IT sector.

On the basis of geography, the Southeast Asia market for recruitment process outsourcing has been segmented into Indonesia, Thailand, Vietnam, and Rest of Southeast Asia. Among these, the Rest of Southeast Asia held the largest share in 2013, accounting for 78% of the overall RPO market. This massive share can be attributed to the increased adoption of RPO services in the Philippines, Malaysia, Myanmar, and Singapore.

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The top companies in the Southeast Asia recruitment process outsourcing market include Zyoin Web Pvt. Ltd., Pontoon Solutions, Talent Fusion, Cielo, Inc., Alexander Mann Solutions, Futurestep, ManpowerGroup Solutions, Kenexa Corporation, Accolo, Inc., Hudson Global, Inc., Atterro Human Capital Group, Randstad Holding NV, and Kelly Outsourcing and Consulting Group. These players have been studied in the report based on company outlook, financial performance, service portfolio, recent events, and key strategies.

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